Best Story You Have of Your Product Helping a Client?

Jan 10, 2017

  1. entrep1776
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    entrep1776 Guru

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    Anyone have any good stories about how you sold a FE policy and the family was blessed to get the money when their loved one passed? Or any insurance policy where someone was extremely happy when they collected on the policy?

    Do you call the people you sell to customers or clients?
     
  2. WinoBlues
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    WinoBlues Guru

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    Any of us that have delivered a claim have some stories how well these products work. I have delivered Millions of dollars of claim checks. Yes, all claim checks were sent to the agent to deliver.

    One story that sticks out was a Accelerated Benefit claim. The wife of a client called to borrow cash values from her husband's policy. They were in foreclosure and borrowing money to keep the lights on. Their kids were making the insurance payments with after school jobs. In talking to her I find out he is battling liver cancer and losing. We filed the ABR claim. They were both in tears when I delivered the $100,000.00 check.

    First ABR claim I did was over 20 years ago. The guy used to send me Christmas cards from Baja where he started a jet ski business with the money. Bucket list money.
     
  3. bill3173
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    bill3173 Guru

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    The only good story I've had in the last five years was a young granddaughter that was named co-bene on a fairly small Fe policy. She paid for her grandmother's funeral out of her half. The other bene wouldn't give her a dime. This girl thanked me for my effort, so she could get a few $$. Those that have collected $200K plus, were like "you're my husband's friend, not mine, fu and the horse you rode in on".

    Not to mention the relatives that don't give a shitt that the insured is dying, and want to know how soon they can collect after the plug is pulled.
     
    bill3173, Jan 10, 2017
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  4. DHK
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    DHK Guru

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    I'll give you the story you didn't ask for.

    http://www.insurance-forums.net/for...about-getting-out-biz-t75458.html#post1004732

    Until you meet with someone... you DON'T KNOW what their needs are and you DON'T KNOW what their budget is.

    Let me tell you about a guy I was helping with a TINY 401k rollover (about $1k) at a credit union. (You help EVERYBODY at a credit union.) His name was Barry Franklin. He was just let go from a major electronic retailer and he was trying to get a limousine driver 'business' going.

    His need wasn't "investment advice". I could tell. He needed some kind of insurance. And I knew he would need to cash out his 401k after he'd receive it. I just wish I had an insurance product available. My credit union B/D was HORRIBLE when it came to insurance. Our insurance IMO was only good with fixed annuities. I had no idea of all the products that were available.

    And then THIS happened within 30 days of having helped him:

    Officials identify Oxnard man who was fatally stabbed inside his home - VC-Star

    Stabbing victim remembered; fund set up to help family - VC-Star

    (These used to be article links, but they don't work anymore.)

    Franklin was the sole financial supporter of several family members, including one of his sisters and her daughter, and he often worked multiple jobs, said Cleland, who employed Franklin as a driver for Blackhawk Limousine Service in the months before he was killed.

    Yeah... it's F$$$ up... but this stuff happens. I couldn't believe the guy I was helping was MURDERED. Maybe he was into something bad and taking bad loans from bad people... I don't know.

    I met with someone else who had great concerns about his son. While I told him that insurance doesn't pay off if he's committing a felony, he wanted to know what his options were.

    All of this was before I knew much about accident policies. Assurity has an accidental death policy that would've been PERFECT for either of these two people's needs... because it would be cheap and cover them for accidents... which is VIOLENT AND EXTERNAL to the body. A $250,000 accidental death policy would run about $20/month.
     
    DHK, Jan 10, 2017
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  5. walthamny
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    walthamny Guru

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    I know a NY Life agent who had sold life insurance to his brother. Unfortunately, his brother had a habit of shopping his life policies every year claiming he had lost weight, his cholesterol had gone down because of his new diet and so on. The agent advised against this and tried to get him to convert some term insurance several times. The brother would have none of that and he asked comparision shopping every year. The younger brother agent just complied. Then his brother committed suicide and the life insurance company that had issued the last policy refused to pay because of the 2 year contestability cause.
     
  6. mplsmm
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    mplsmm Super Genius

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    I have too many of the other ones too...a friend and client had a much younger brother, 22. One of those guys that doesn't need anything because he is by himself, no bills, paid his own way kind of guy. I think the last thing he would have ever wanted was to be a burden on anyone and thought if you don't have kids or a house, who cares? So on vacation across country he choked on eggs at breakfast in a restaurant. They tried everything but he was without oxygen for too long. Really none of his brothers or sisters were financially well off at all. So they all booked flights, took off work and flew to his side. No one has jobs with leave or anything like that. They pulled the plug and then had to have his body transported all the way back home and more tickets back, plus hotels, food, the funeral, hospital bills, handling his apartment and lease and utilities and all of that stuff. People were selling possessions, I donated to the cause, but it literally bankrupted every family member. My friend called, she hasn't paid her car insurance in months. I never asked him, he probably would have said no, but how much would it have been? $10 a month, maybe less.
     
    mplsmm, Jan 10, 2017
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  7. Heather
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    Heather Guru

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    I did the I never asked them one to. Never again will I make that mistake. My daughters friend growing up was from a poor family. I never asked and a year later the mom died, the welfare office paid for cremation. The mom's boyfriend had no money to raise the kids. A distant relative they hardly knew used his savings to drive from down south to pick them up. There wasn't even money for a U-Haul so the girls could only take a few small boxes in this tiny car. I remember seeing all their belongings on the curb for the trash and crying.
     
    Heather, Jan 11, 2017
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  8. mplsmm
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    mplsmm Super Genius

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    Way to go, now I am crying in my office. Damn you! Ok, gotta mail out some life quotes.
     
    mplsmm, Jan 11, 2017
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  9. rousemark
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    rousemark Still Here!

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    The very first death claim I paid was on a lady who was killed in a car accident. The son called me before the arrangements had even been made wanting me to met him at the funeral home to fill out the claim forms.

    Probably the claim that made the most difference in the family's lives was a case where I took the application on Thursday evening (replacing an in force policy). The following Saturday morning the wife called wanting to know how much insurance her husband had. He had had a fatal heart attack during the night. I told her the old policy was still in force so I knew there would be no problem with that claim. As to the pending policy, we would have to file a claim and see so we sent the claim in, the company investigated and within 90 days or so I delivered the check.
     
  10. WinoBlues
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    WinoBlues Guru

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    This reminds me of a case from my first six months in the business.

    It was one of my first cases I ran completely on my own. I was presenting a Pension Max to a policy owner on the debit I was given. 60ish yr old man, retiring very soon, Two girls in college and one still in high school. Non working spouse. He really liked the idea of taking his whole pension and covering it with Life Insurance since he was in perfect health. I was reeling with the thought of the almost $5,000 (1986) premium. End result, I let him put me off multiple times for six + months. I never nailed him down with a Yes or No. Soon after I get a call from the spouse. Yup, he died. He also had taken the no survivor benefit. I took the claim on the little $5,000 policy he kept. The daughters had dropped out of college, found waitress jobs and moved back in with mom and the high school sister. The wife was looking for work anywhere that would take a 60ish woman that had never worked outside the home. They eventually cashed out the little WL policies they still had and sold the house.

    This and one other early case taught me to get a Yes or No. And to really drill down on the funding part of a plan. I felt guilty for a long time for not being a stronger agent at the time.
     
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